Coca-Cola Consolidated: Buybacks Support Its Stock Price

  • Coca-Cola Consolidated (COKE) has delivered a 25% CAGR over the past decade, but I don't expect similar returns in the future. The CEO, who is the great-grandson of the founder, controls 72.2% of voting rights, but succession plans are uncertain. After paying a $1 dividend per share between 1994 and 2022, COKE has shifted its capital allocation and initiated aggressive buybacks.